An auditor's review of the terms associated with notes payable most likely provides evidence concerning assertions of Classification and understandability
All information used by the auditor to draw the findings on which the auditor's opinion is based, whether it came from audit processes or other sources, is referred to as audit evidence. Material that both validates and corroborates management's claims about the financial statements or internal control over financial reporting, as well as information that refutes such claims, make up audit evidence.
The statements of classification and understandability of financial statement information are supported by an auditor's analysis of the agreements connected with notes payable. The auditor can confirm that notes payable are correctly classified as liabilities and make sure that the terms and conditions are disclosed in a way that the readers of the financial statements can understand them.
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Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $405,000; Allowance for Doubtful Accounts has a debit balance of $3,500; and sales for the year total $1,820,000. Bad debt expense is estimated at 1/4 of 1% of sales. 1. Determine the amount of the adjusting entry for uncollectible accounts.2. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense 3. Determine the net realizable value of accounts receivable.
The amount of the adjusting entry for uncollectible accounts can be calculated by multiplying the sales for the year by the estimated bad debt expense rate. In this case, the bad debt expense is estimated at 1/4 of 1% of sales.
Sales * Bad debt expenditure rate = Bad debt expense
Bad debt expense = $1,820,000 * (1/4) / 100
Bad debt expense = $4,550
Therefore, the amount of the adjusting entry for uncollectible accounts is $4,550.
We must consider the current balances as well as the adjusting entry to obtain the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expenses.
Accounts Receivable:
Adjusted balance = Beginning balance + Sales - Collections
Adjusted balance = $405,000 + $1,820,000 - Collections (unknown)
Allowance for Doubtful Accounts:
Adjusted balance = Beginning balance + Adjusting entry
Adjusted balance = $3,500 + $4,550
Adjusted balance = $8,050
Bad Debt Expense:
Adjusted balance = Adjusting entry
Adjusted balance = $4,550
The net realizable value of accounts receivable is calculated by deducting the Allowance for Doubtful Accounts from the Accounts Receivable.
Net realizable value = Accounts Receivable - Allowance for Doubtful Accounts
Net realizable value = $405,000 - $8,050
Net realizable value = $396,950
Therefore, the net realizable value of accounts receivable is $396,950.
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1.4 Determine the area of the triangular ABC with AC-5cm and height DB=30 mm. A B 30mm D 5 cm C
The triangle ABC's area, given its dimensions, is 75 cm2.
Given:The triangle ABC has a height of DB = 30 mm and an AC of 5 cm.
To locate
Calculate the triangle's ABC's area.
Solution:Triangle's surface area is halved (base height)
30 mm in height with a 5 cm base
Triangle's surface area equals half (5 30)
Triangle's surface area is 75 cm2.
As a result, the triangle ABC's area, given its dimensions, is 75 cm2.
What is the triangular sheet's area?The entire area filled by a triangle's three sides in a two-dimensional plane is referred to as the triangle's area. The fundamental equation for a triangle's area is A = 1/2 b h, where b and h are the product of the triangle's base and height.
What is the triangle's volume?Volume is equal to 0.5 * b * h * length, where b is the triangle's base length, h is the triangle's height, and length is the prism length.
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Franklin, Inc., has an inventory turnover of 18.9 times, a payables turnover of 11.2 times, and a receivables turnover of 9.7 times. What is the company's cash cycle? Assume 365 days per year.
27.83 days
14.27 days
45.25 days
24.35 days
50.91 days`
Franklin, Inc., has an inventory turnover of 18.9 times, the company's cash cycle is 24.35 days. The correct option is D.
To calculate the company's cash cycle, we will use the following terms: inventory turnover, payables turnover, and receivables turnover.
First, let's determine the number of days for each turnover:1. Inventory Days = 365 / Inventory Turnover = 365 / 18.9 = 19.31 days
2. Payables Days = 365 / Payables Turnover = 365 / 11.2 = 32.59 days
3. Receivables Days = 365 / Receivables Turnover = 365 / 9.7 = 37.63 days
Cash Cycle = Inventory Days + Receivables Days - Payables Days
Cash Cycle = 19.31 days + 37.63 days - 32.59 days
Cash Cycle = 24.35 days
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Complete question:
Franklin, Inc., has an inventory turnover of 18.9 times, a payables turnover of 11.2 times, and a receivables turnover of 9.7 times. What is the company's cash cycle? Assume 365 days per year.
A. 27.83 days
B. 14.27 days
C. 45.25 days
D. 24.35 days
E. 50.91 days`
A written request to an insurance company to locate the status of an insurance claim is referred to as a/an
A written request to an insurance company to locate the status of an insurance claim is referred to as a claim status.
What is an insurance company?An insurance company is a business organization that is established to receive premium from all of its customers (insured) for any losses which may or may not occur, so it can easily use this funds to compensate or indemnify for losses that are incurred by those having higher risk.
In financial accounting, a claim status is a terminology which is used to describe a written request by an insured or other service provider to an insurance company to locate the status of an insurance claim.
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Answer these question
1. 100 bushels and p1
2. 150
3. as bushels become that big, it gets harder and harder to transport them, messing with the price compared to just buying two separate 100 bushels.
One problem with battery storage is sourcing the raw materials required. Reserves of important elements such as Lithium and Cobalt are not distributed evenly across the world. Using this report, (https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions/executive-summary ) what percentage of the world’s Cobalt production occurs in the Democratic Republic of the Congo (DRC)? In what country is most of this Cobalt processed? [2 pt]
According to the report, "The Role of Critical Minerals in Clean Energy Transitions," around 70% of the world's Cobalt production occurs in the Democratic Republic of the Congo (DRC). Most of the Cobalt produced in the DRC is processed in China.
According to the report by the IEA, about 70% of the world's Cobalt production occurs in the Democratic Republic of the Congo (DRC). The DRC has the world's largest reserves of cobalt; hence it produces most of it. However, the country has been in the news for its issue of labor to mine the mineral. Apart from the DRC, other countries with significant reserves of cobalt include China, Russia, and Australia. The bulk of the world's Cobalt is refined in China, followed by Finland and Canada. However, according to a report by Benchmark Mineral Intelligence, in 2020, over 40% of global cobalt refining occurred in China, and about 25% occurred in Finland.
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Retrenching to a narrower diversification base is Group of answer choices a strategy that allows a diversified firm's energies to be concentrated on building strong positions in a smaller number of businesses rather the stretching its resources and managerial attention too thinly across many businesses. Sometimes an attractive option for deepening a diversified company's technological expertise and supporting a faster rate of product innovation. A strategy best reserved for companies in poor financial state. An attractive strategy option for revamping a diverse business lineup that lacks strong cross-business financial fit. Usually the most attractive long-run strategy for a broadly diversified company confronted with recession, high interest rates, mounting competitive pressures in several of its businesses, and sluggish growth
Retrenching to a narrower diversification base is the most attractive long-run strategy for a broadly diversified company.
What is diversification?It should be noted that diversification simply means an investment strategy that's used to reduce risk in business.
In this case, retrenching to a narrower diversification base is the most attractive long-run strategy for a broadly diversified company confronted with recession, high interest rates, mounting competitive pressures in several of its businesses, and sluggish growth.
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What is true about contemporary Indian Economy
Answer:
There is a great scope for its growth in the future.
Hope this helps.
60 points please help
1. What are two environmental hazards created by transportation? How are these hazards produced?
2. Imagine that you are a hospitality manager and you want to warn your guests about possible risks in the nearby park. What are two pieces of advice that you would give them to help them stay healthy while enjoying the park?
3. Some workers in transportation and logistics may work in factories or in transporting goods from factories. What are three common factory hazards? Describe each.
4. What are three hazards that might be found in restaurants? Why are these hazards found in restaurants?
5. Workers in hospitality and transportation careers often have to follow strict rules about environmental hazards. Why is this important?
Hospitality Manager <- your second lab link
1. Why is hospitality important in business?
2. What types of things does a hospitality manager do?
3. What courses or information would be helpful for a hospitality manager?
4. What do you think you'd like best about working as a hospitality manager?
Answer:
The environmental impact of transport is significant because transport is a major user of energy, and burns most of the world's petroleum. This creates air pollution, including nitrous oxides and particulates, and is a significant contributor to global warming through emission of carbon dioxide.
In IS implementation, which factor can lead to the risk of loss of confidentiality?
A.
loss of key employees
B.
poor password practices
C.
loss of hardware
D.
unskilled personnel
Answer:
B. poor passward practices
Explanation:
I dont have one exept that I took the edmentum test and it was right.
Answer:
THe answer is B
Explanation:
How much does it cost to operate an 800 watts rice cooker for 30
minutes daily for 30 days at a rate of 40 cents/kWh?
4.90
$5.0
$4.8
$6
50µC charge passes through a cross-
The cost to operate an 800 watts rice cooker for 30 minutes daily for 30 days at a rate of 40 cents/kWh is $4.80.
Power consumed by rice cooker, P = 800 watts
Time, t = 30 minutes daily for 30 days
Rate of electricity, r = 40 cents/kWh
We need to calculate the cost of operating a rice cooker for 30 minutes daily for 30 days at a rate of 40 cents/kWh.
Total time for which rice cooker is used in 30 days = 30 × 30 minutes = 900 minutes
Total energy consumed by rice cooker in 30 days = P × t
= 800 watts × (900/60) hours
= 12,000 watt-hours
= 12 kWh
Total cost = Energy consumed × Rate of electricity= 12 kWh × 40 cents/kWh
= 480 cents
= $4.80
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true or false, to advance the progress completion percentage in a smartbook assignment, only one question per concept must be answered correctly
Answer:
FalseExplanation:
A SmartBook assignment's progress completion % may not always be dependent on correctly answering just one question per idea. The requirements for increasing a SmartBook assignment's progress completion percentage can change based on the particular assignment, the course, and the instructor. It could be determined by properly answering a predetermined number of questions overall, a predetermined number of questions in each topic area, or by doing a predetermined number of activities or evaluations inside the assignment. The easiest way to find out the precise requirements for raising the progress completion percentage in a SmartBook assignment is to study the assignment instructions or speak with the instructor.
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2021 2020 2019 2018 2017Sales $ 282,880 $ 270,800 $ 252,600 $ 234,560 $ 150,000Cost of goods sold 128,200 122,080 115,280 106,440 67,000Accounts receivable 18,100 17,300 16,400 15,200 9,000Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.
Based on the net sales, the cost of goods sold, and the accounts receivable over the years, the net sales are favorable while the others are unfavorable.
What is trend for net sales sold?2017 is to be used as the base year which means that all denominators will be the 2017 net sales figure of $150,000.
2017: 2018: 2019:
= 150,000 / 150,000 = 234,560 / 150,000 = 252,600 / 150,000
= 100% = 156.37% = 168.40%
2020: 2021:
= 270,800 / 150,000 = 282,880 / 150,000
= 180.53% = 188.59%
This trend is favorable as it shows net sales are rising.
What is the trend for cost of goods sold?2017: 2018: 2019:
= 67,000 / 67,000 = 106,440 / 67,000 = 115,280 / 67,000
= 100% = 158.87% = 172.06%
2020: 2021:
= 122,080 /67,000 = 128,200 / 67,000
= 182.21% = 191.34%
Cost of goods are an expense so this is Unfavorable.
What is the trend for accounts receivable?2017: 2018: 2019:
= 9,000 / 9,000 = 15,200/ 9,000 = 16,400 / 9,000
= 100% = 168.87% = 182.22%
2020: 2021:
= 17,300 / 9,000 = 18,100 / 9,000
= 192.22% = 201.11%
The business needs cash so when more is tied up as Accounts Receivables this is Unfavorable.
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How did the Voting Rights Act influence the use of gerrymandering quizlet?
The Voting Rights Act has been construed by states to suggest that it is occasionally essential to create districts that benefit minorities, such as North Carolina's 12th Congressional District.
How has the Voting Rights Act of 1965 impacted redistricting?Voting techniques and procedures that discriminate on the basis of race, color, or membership in a language minority group are outlawed nationally under Section 2 of the Voting Rights Act. This restriction includes redistricting plans.
The results of state and House of Representatives elections have an impact on the presidential election due to gerrymandering. Since districts are irrelevant in presidential and senate contests, they are unaffected.Districts governed by historically marginalized people are aided through gerrymandering.
The manipulation could take the form of "cracking," which involves spreading out the supporters of the opposing party across several districts, or "packing," which involves concentrating the followers of the opposing party in one district in order to lessen their influence in other districts. Additionally, incumbents may benefit from gerrymandering.
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WILL MARK BEST ANSWER BRAINLIEST
Write a professional email using the following scenario:
The manager is going to a conference in another city. She would like her assistant to book the flight and hotel.
A professional email based on the given scenario would sound like the following:
To: Assistant
From: Manager
Subject: Flight and Hotel Booking for Chicago
Date: January 28, 2022
Hi,
Please book my flight and hotel reservations for the upcoming conference in Chicago from February 7, 8:00 am to February 11, 2022 (5:00 pm).
Do not forget the company's favorite airline and hotel for the bookings.
Regards,
Tony
Thus, while the email sounds professional, it may be more conversational than formal since it is a workplace request.
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Select the correct answer.
From the following balances of Casper Inc., calculate the free cash flow of Casper Inc.
From the given balances of Casper Inc., the free cash flow of Casper Inc. can be calculated as $917,000. Hence the correct option is c.
Give a brief account on free cash flow.Free cash flow (FCF) refers to the cash a company generates after accounting for cash outflows in order to support its business and maintain its fixed assets. Unlike earnings and net income, free cash flow is a measure of profitability, excluding non-cash expenses on the income statement and including spending on equipment and assets, and changes in working capital from the balance sheet. increase.
Free cash flow = Net operating profit after taxes - Net investment in operating capital.
Net operating profit after taxes = Cash flow from operating activities
Net investment in operating capital = Sale of machinery + Dividend paid
Free cash flow = 1,000,000 - (30,000 + 53,000)
Free cash flow = 1,000,000 - 83,000
Free cash flow = $ 917,000
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Lexon Corp. produces high-nutrition breakfast products. As it enters into foreign markets, it faces strong pressures for both reducing costs and adapting products for local markets. Based on this, the company should use a
Since the company faces strong pressures for both reducing costs and adapting products for local markets, it should use a transnational strategy.
A transnational strategy simply refers to a business structure where the global business activities of a company are coordinated through cooperation and interdependence between the head office and local subsidiaries.
Since Lexon Corp faces strong pressures for both reducing costs and adapting products for local markets, it should use a transnational strategy.
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A new business has total sales of $14,000, applied $1,350 in merchandise discounts, and had returns of $234. Calculate the business's total net sales.
Answer:
$12,416
Explanation:
Applied merchandise discounts mean discounts issued.
The net sales will be total sales minus merchandise discounts applied minus returns.
Net sales = total sales - ( discounts + returns)
Net sales = $14,000 - ( $1,350 + $234)
Net sales = $14,000 - $1,584
Net sales = $12,416
Why would it be a bad thing for workers (especially children) to be doing double the work during their shifts? (Think baout trying to manage two machines at one time)
Answer:
Double work can lead to the body developing a lot of health related problems due to the stress placed on it. These problems are not only bad for the workers themselves but also for the company hiring them.
Some of the health problems that may arise include:
Diabetes Increased risk of heart diseaseHigh blood pressure Depression Sleep deprivation FatigueThese problems can affect both children and adults and so double shifting should be discouraged.
As a result of these health problems, the employer may be affected by:
Absenteeism - Workers will not show up for work in order to recuperate and this will reduce the firm's productivity. Lack of concentration - sleep deprivation can lead to a lack of concentration which can lead to mistakes being made that could be costly to the company. High staff turnover - people will leave the company to avoid the stress of working double shifts and the company would have to keep spending on training new employees who will take time to learn the tricks of the trade thereby costing the company more.How are business plans used in health care? Check all that apply.
-identifying a consumer market
-establishing goals and objectives
-comparing prices of medical equipment
-calculating a company's cash flow
-figuring out the business's purpose
Answer:
identifying a consumer market
comparing prices of medical equipment
calculating a company's cash flow
Answer:
Establishing goals and objectives
Figuring out the business’s purpose
Explanation:
I got it correct ;)
true or false the major source of new jobs in the united states is large corpoations that make products bought by millions.
False. Large corporations that make products bought by millions are not the major source of new jobs in the United States.
While large corporations certainly contribute to job creation in the United States, they are not the major source of new jobs. The majority of new job growth in the country is driven by small and medium-sized enterprises (SMEs) rather than large corporations.
SMEs are often characterized by their ability to adapt quickly to market demands, innovate, and create niche products or services.
Small businesses play a vital role in the U.S. economy, accounting for a significant portion of job creation. According to the U.S. Small Business Administration, small businesses have been responsible for creating the majority of net new jobs in recent years.
These small businesses span various industries, from technology startups to local service providers, and contribute to job growth at the local, regional, and national levels.
While large corporations do contribute to employment opportunities, it is important to recognize the significant role that small and medium-sized businesses play in job creation and economic development.
Their agility, innovation, and ability to respond to market demands make them a crucial source of new jobs in the United States.
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please please pleaseee help!!
What is at least one (1) "good thing (an improvement to life as we know it) that has resulted from access to Electronic
Communication and/or the Internet?What is at least one (1) "bad" thing that has resulted from access to Electronic Communication and/or the Internet?
What is at least one (1) truly "ugly thing that can result from access to Electronic Communication and/or the Internet?
In conclusion, since both Electronic Communication and the Internet are here to stay, what can be done to use the
good, but avoid the bad and the ugly?
One good thing that has resulted from access to electronic communication and the internet is the ease and speed of communication.
What is the negative aspect?One bad thing that has resulted from access to electronic communication and the internet is the spread of misinformation and fake news. The ease with which information can be shared has led to the proliferation of false information, which can have negative consequences on individuals and society as a whole.
One truly ugly thing that can result from access to electronic communication and the internet is cyberbullying. The anonymity and distance provided by electronic communication can embolden individuals to engage in cruel and harmful behavior towards others, leading to mental health issues and even sui--cide in some cases.
To use the good but avoid the bad and the ugly, it is important to promote digital literacy and critical thinking skills.
Individuals should be taught to verify information and sources, practice empathy and kindness online, and understand the potential consequences of their actions. Platforms should also take responsibility for moderating harmful content and promoting positive online behavior.
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Which of the following is not one of the determinants of productivity in the Neo-Classical theory of the labor market?
A efficiency wages
B technology
C Machinery and resources
D training
Answer:
Explanation:
C Machinery and resources is not one of the determinants of productivity in the Neo-Classical theory of the labor market.
In the Neo-Classical theory, productivity is primarily influenced by factors such as technology, training, and efficiency wages. Technology refers to the level of technological advancement and innovation in an industry or economy, which can greatly impact productivity. Training refers to the skills and knowledge that workers possess, as well as the investments made in developing their capabilities. Efficiency wages are wages set above the market equilibrium to motivate workers and increase their productivity.
Machinery and resources, although important in the overall production process, are not considered as direct determinants of productivity in the Neo-Classical theory of the labor market.
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A $13,000 bond that has a coupon rate of 6.20% payable semi-annually and maturity of 8 years was purchased when the yield was 5.30% compounded semi-annually. What was the book value of the bond after 14 payments?
The book value of bond after 14 payments is $13,333.27. It can be calculated as
Coupon rate= 6.20%
Maturity of the bond= 8 years
Yield= 5.30% compounded semi-annually
Principal amount of the bond= $13,000
To calculate the book value of the bond after 14 payments, we will use the following formula;
PV = PMT * [(1 - (1 + r)^-n) / r] + FV * (1 + r)^-n
Here, PV = Present value of the bond, PMT = Interest payment, FV = Future value of the bond, r = interest rate per semi-annum, n = Number of periods. By using the above formula, we will calculate the book value of the bond after 14 payments as follows;
PMT = Coupon rate/ 2 * Principal amount of the bond= 6.20/2 * 13,000= $403
We will now calculate the Present value of the bond; PV = PMT * [(1 - (1 + r)^-n) / r] + FV * (1 + r)^-n= 403 * [(1 - (1 + 0.0530/2)^-14) / (0.0530/2)] + 13,000 * (1 + 0.0530/2)^-14= $13,333.27
Therefore, the book value of the bond after 14 payments is $13,333.27.
Value of Bond
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what is meant by the term quality control as it relates to a cpa firm?
The term quality control refers to the processes and procedures implemented by a CPA firm to ensure that its services meet the required standards and expectations.
Quality control measures are designed to ensure that the firm's work is accurate, reliable, and complies with the relevant accounting and auditing standards. CPA firms typically have strict quality control systems in place to minimize the risk of errors or omissions in their work, and to maintain the integrity of their services. These systems may include policies and procedures for reviewing and approving work, training and development programs for staff, and ongoing monitoring and evaluation of performance. Ultimately, quality control is a key component of maintaining the reputation and credibility of a CPA firm.
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#3 Shaq Fu Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows during the next 3 years, after which FCF is expected to grow at a constant 6.00% rate. Shaq Fu’s cost of capital is 10.00%. Shaq Fu has 8.00 million shares outstanding, and carries 86.00 million in debt. Round to two decimal places
Equity value = 398.29
share price = equity value/number of shares
share price = 398.29/9
share price = 44.25
How to solveWACC= 11.00%
Year Previous year FCF FCF growth rate FCF current year Terminal value Total Value Discount factor Discounted value
1 0 0.00% -24 -24 1.11 -21.6216
2 -24 0.00% 40 40 1.2321 32.4649
3 40 0.00% 35 612.5 647.5 1.367631 473.44642
Long term growth rate (given)= 5.00% Value of Enterprise = Sum of discounted value = 484.29
Where
Total value = FCF + horizon value (only for last year)
'
Horizon value = FCF current year 3 *(1+long term growth rate)/( WACC-long term growth rate)
Discount factor=(1+ WACC)^corresponding period
Discounted value=total value/discount factor
Enterprise value = Equity value+ MV of debt
484.29 = Equity value+86
Equity value = 398.29
share price = equity value/number of shares
share price = 398.29/9
share price = 44.25
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The activity that causes the service department's cost should be the basis for assigning ______ costs to operating departments.
The activity that causes the service department's cost should be the basis for assigning actual costs to operating departments.
What is cost allocation?Cost allocation refers to assigning of a cost to several cost objects such as products or departments.
It also the of process of identifying cost objects and assigning costs for financial reporting.
Hence, the activity that causes the service department's cost should be the basis for assigning actual costs to operating departments.
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Suppose that, before filing for bankruptcy, Stephen had been involved in an automobile accident. The attending officers determined that Stephen's blood-alcohol level was above the legal limit. An injured passenger in the other car sued Stephen and won a settlement. Further suppose that Stephen, as part of his Chapter 13 bankruptcy, attempted to discharge the car-accident settlement in addition to attempting to discharge his obligation for his children's college expenses. Would he be successful?
Answer:
No, because in bankruptcy repayment plans, certain debts are not dischargeable, including those related to injury or property damage caused while driving drunk.
Explanation:
Dischargeable debts are defined as amounts owed that can be wiped out by one's bankruptcy discharge.
Once the bankruptcy discharge is issued, creditors in such cases can no longer collect on the debts
An example of dischargeable debts is credit card debt and medical bills
In this scenario however where Stephen had been involved in an automobile accident and attending officers determined that Stephen's blood-alcohol level was above the legal limit.
Any debt in relation to the injured party cannot be discharged through bankruptcy
Why can’t a guy just love me, I would give him cuddles , kissed in the forehead , call him baby/ sunshine , let him use my thighs as pillows LOL ( don’t ask ) would play video games with him 24/7 , go to theme parks and have so much fun! I only wish it was real :(
Answer:
Dont rush anything!
Explanation:
The person who is meant for you will come soon :)
Introduction to Career Planning
Introduction to Career Planning Unit Test
10. Which statement most accurately describes what can happen to jobs in a bad economy? (1 point)
More jobs become available as goods and services become more expensive.
More jobs become available as goods and services become less expensive.
Fewer jobs become available as goods and services become more expensive.
Fewer jobs become available as goods and services become less expensive.
Answer:
Fewer jobs become available as goods and services become more expensive.